Kingdom’s farm sector holds huge potential for investors

Updated 19 September 2012
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Kingdom’s farm sector holds huge potential for investors

Demand for agricultural products is swelling across Saudi Arabia, driven by a population boom, rising incomes, affluent lifestyles and a strong economy – the largest in the Gulf region.
Recent studies reveal that the Kingdom currently has around 34,997 hectares of organically planted land with sales of organic products expected to achieve 10 percent annual growth, fueled by the increasing awareness among the local community about the advantages and diversity offered by organic farming.
The study predicts organically planted land to form 5 percent of the total planted area in the Kingdom. Furthermore, poultry consumption is expected to grow by 17.2 percent to reach 1.6 million tons in 2016, while milk production could increase by more than 17 percent to 2.1 million tons between 2015 and 2016.
The Saudi government has allocated SR 60 billion to boost the domestic agricultural sector this year and is actively looking at regional and global agricultural products and services and focusing on organic alternative farming to meet the growing nutritional needs of its citizens.
The upcoming Saudi Agriculture 2012 – the 31st International Agriculture, Water and Agro-Industry Show — will unveil some of the latest solutions addressing the rising demand for agricultural products in the Kingdom and throughout the region. Running from Sept. 24 to 27 at the Riyadh International Convention & Exhibition Centre, the trade fair will cover animal health and production, agricultural finance and banking, agricultural products and services, chemicals and fertilizers, cold storage and crop production, and dairy farming products and equipment, among many others.
Confirming their presence in the event are several key regional and international agriculture industry players and leaders who will share business, investment and policy views with high-ranking agriculture officials. The event is accredited by UFI, the Global Association of the Exhibition Industry.
“Saudi Arabia holds huge potential for investors and businesses who want to work in the region’s largest growing agricultural marketplace.
The 2012 national budget shows how the government has taken a serious stance toward addressing the food needs of its people so now is the perfect time to forge and strengthen ties among local agricultural and food players. Saudi Agriculture 2012 is an ideal platform for determining which solutions can drive the Saudi food agenda,” said Khalid Daou, project manager of Saudi Agriculture at Riyadh Exhibitions Company.
Saudi Agriculture 2012 will showcase the latest in animal health and production, agricultural finance and banking, agricultural products and services, chemicals and fertilizers, cold storage and crop production, dairy farming products and equipment, fisheries and fish farming, greenhouses, handling and transport systems, irrigation and landscaping equipment, machinery and spare parts, organic farming, packaging systems and products, pesticides, pumps and pipe systems, seeds and soil nutrition products, spraying machinery, water treatment, water management systems and warehousing.
Running concurrently with Saudi Agriculture 2012 is the Saudi Agro-Food 2012 — the 19th International Trade Show for Food Products,
and the Saudi Food-Pack — The International Exhibition for Food Processing and Packaging, to feature the latest products, technologies and services in areas ranging from frozen and chilled foods, confectionery, chocolates, health and natural foods, to presentation, processing and packaging equipment.


US in criminal probe of China's Huawei

Updated 17 January 2019
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US in criminal probe of China's Huawei

  • The Wall Street Journal said the US justice department is looking into allegations of theft of trade secrets from Huawei's US business partners
  • Huawei forcefully denied accusations that his firm engaged in espionage on behalf of the Chinese government

WASHINGTON: US authorities are in the "advanced" stages of a criminal probe that could result in an indictment of Chinese technology giant Huawei, a report said Wednesday.
The Wall Street Journal, citing anonymous sources, said the Department of Justice is looking into allegations of theft of trade secrets from Huawei's US business partners, including a T-Mobile robotic device used to test smartphones.
Huawei and the Department of Justice declined to comment on the media report.
However, Huawei noted that "Huawei and T-Mobile settled their disputes in 2017 following a US jury verdict finding neither damage, unjust enrichment nor willful and malicious conduct by Huawei in T-Mobile's trade secret claim."
The move would further escalate tensions between the US and China after the arrest last year in Canada of Huawei's chief financial officer Meng Wanzhou, who is the daughter of the company founder.
The case of Meng, under house arrest awaiting proceedings, has inflamed US-China and Canada-China relations.
Two Canadians have been detained in China since Meng's arrest and a third has been sentenced to death on drug trafficking charges -- moves observers see as attempts by Beijing to pressure Ottawa over her case.
Huawei, the second-largest global smartphone maker and biggest producer of telecommunications equipment, has for years been under scrutiny in the US over purported links to the Chinese government.
Huawei's reclusive founder Ren Zhengfei, in a rare media interview Tuesday, forcefully denied accusations that his firm engaged in espionage on behalf of the Chinese government.
The tensions come amid a backdrop of President Donald Trump's efforts to get more manufacturing on US soil and slap hefty tariffs on Chinese goods for what he claims are unfair trade practices by Beijing.
In a related move, lawmakers introduced a bill to ban the export of American parts and components to Chinese telecom companies that are in violation of US export control or sanctions laws -- with Huawei and fellow Chinese firm ZTE the likely targets.
"Huawei is effectively an intelligence-gathering arm of the Chinese Communist Party whose founder and CEO was an engineer for the People's Liberation Army," said Republican Senator Tom Cotton, one of the bill's sponsors.
Democratic Senator Chris Van Hollen said in the same statement: "Huawei and ZTE are two sides of the same coin. Both companies have repeatedly violated US laws, represent a significant risk to American national security interests and need to be held accountable."
Last year, Trump reached a deal with ZTE that eases tough financial penalties on the firm for helping Iran and North Korea evade American sanctions.
Trump said his decision in May to spare ZTE came following an appeal by Chinese President Xi Jinping to help save Chinese jobs.